Technical Foam Market Outlook:
Technical Foam Market size was estimated at USD 12.6 billion in 2024 and is expected to surpass USD 21.9 billion by the end of 2034, rising at a CAGR of 6.4% during the forecast period, i.e., 2025-2034. In 2025, the industry size of technical foam is estimated at USD 13.2 billion.
The key driver of growth in the technical foam market is strong demand from rigid polyurethane (PU) insulation. In 2017, approximately 5.9 million tons of PU foam were consumed for insulation around the world, which is nearly half of the total PU foam usage (13 million tons) for the sector. The producer price index (PPI) for “consumer and institutional polyurethane foam products” was stable at ~204.58 in December 2007, reflecting steady pricing momentum, while the parallel polystyrene foam index was about ~218.71. Public-sector investment RDD is focused on low-GWP blowing agents and thermal performance improvements, per the EPA.
Accordingly, continued pressures on raw-material logistical supply chain 'density' - especially polyols, isocyanates, and blowing agents - began to dominate the landscape starting in 2020 due to weather events, transport disruptions, and rising low GWP demand. In the U.S., there are approximately 78 slab stock and 235 molded foam facilities, which illustrate domestic production capabilities. As for international trade in PU chemicals (with 24 Mt production in 2017), China has a share of 53%, Europe has 24%, and NAFTA has 18%. Public sources show that while the styrenic FOAM-PPI was more volatile than the CPI at a producer-level, the CPI for foam-related end-products movements has mirrored upwards and downwards movement trends experienced by the established PPI indices
Technical Foam Market - Growth Drivers and Challenges
Growth Drivers
- Growth in automotive lightweighting initiatives: The main driver of the technical foam industry, and subsequently the technical foam market, is the growth in demand for lightweight materials for building consumer vehicles to improve fuel efficiency and lower emissions. The U.S. Department of Energy recently estimated that for every 11% weight reduction in a vehicle, fuel economy improves by 7-9%. One of the primary elements contributing to the demand for technical foams, such as polyurethane and polyolefin foams, is the usage of foams in seat cushioning, headliners, and NVH (noise, vibration, and harshness) products. The growing global trend toward electric vehicles will lead to a further increase in the consumption of technical foams, mainly due to the thermal insulation, acoustic management, and battery housing requirements in EVs.
- Rising construction and infrastructure investments: Technical foams are also commonly used in insulation panels, sealants, and structural foam components. In April 2025, total construction spending, according to the U.S. Census Bureau, was recorded at USD 2.1 trillion. This marks a 10.6% increase from the previous year on a year-over-year basis, mainly driven by the residential and commercial projects. Closed cell expanded polystyrene (EPS) and polyurethane foams are the two main types of technical foams in the construction sector and are an important part of the energy efficiency equation for these energy-efficient buildings due to the thermal insulation properties of closed cell foam, and these provide a way to meet green building requirements around the globe. Demand is strongest in Asia Pacific, specifically China and India, where urbanization and major investments in infrastructure as part of their national development plans are fueling industry growth.
Emerging Trade Dynamics
Import & Export Data (2019-2024)
|
Year |
Exporter |
Importer |
Shipment Value (USD Billion) |
|
2019 |
Japan |
China |
17.9 |
|
2020 |
Japan |
China |
15.7 |
|
2021 |
Japan |
China |
19.0 |
|
2022 |
Japan |
China |
20.5 |
|
2023 |
Japan |
China |
21.3 (est) |
|
2019 |
EU |
US |
28.6 |
|
2020 |
EU |
US |
25.5 |
|
2021 |
EU |
US |
29.9 |
|
2022 |
EU |
US |
31.7 |
Key Trade Routes & Values
|
Route |
% of Global Chemical Trade (2021) |
Value (USD Trillion) |
|
Asia-Pacific |
44% |
1.36 |
|
Europe-North America |
20% |
0.62 |
|
Asia-Europe |
29% |
0.89 |
Significant Trade Patterns
|
Trade Flow |
Growth Rate (2018-2023) |
2023 Value (USD Billion) |
|
US to Europe Specialty Chemicals |
4.6% annually |
33 |
|
Japan to China Electronic Chemicals |
3.9% annually |
20.5 |
Technical Foam Market Overview
Technical Foam Market Price History (2019-2023)
|
Year |
North America ($/ton) |
Europe ($/ton) |
Asia ($/ton) |
Global Unit Sales (Million Tons) |
|
2019 |
1,201 |
1,151 |
1,001 |
4.6 |
|
2020 |
1,181 |
1,131 |
981 |
4.3 |
|
2021 |
1,301 |
1,251 |
1,101 |
4.9 |
|
2022 |
1,351 |
1,501 |
1,201 |
5.2 |
|
2023 |
1,401 |
1,451 |
1,251 |
5.5 |
Key Technical Foam Market Price Influencers
|
Factor |
Impact |
|
Raw Material Costs |
Polyol prices +26% (2021) |
|
Geopolitical Events |
Europe price +19% (2022) |
|
Environmental Regs |
Production cost +16% (REACH) |
Regional Sales Volume (Million Tons)
|
Region |
2019 |
2023 |
CAGR |
|
North America |
1.3 |
1.6 |
4.3% |
|
Europe |
1.2 |
1.4 |
3.9% |
|
Asia |
2.3 |
2.7 |
5.4% |
Challenges
- Raw material price volatility: Volatile prices of petrochemicals, feedstock impact the production cost of technical foams. For instance, despite halting production due to the COVID-19 pandemic in 2020, global ethylene prices increased by 14% in 2021, and polyurethane (PU) feedstocks increased in price by 21% in early 2022 because of the Hanjin Shipping Company crisis. Volatile prices impact the foam manufacturer's profitability and restrict OEMs from entering into long-term contracts, particularly in industries like automotive and packaging, which limits technical foam market growth and creates financial uncertainty for small to mid-sized foam manufacturers in many regions of the world.
- Recycling & disposal challenges: Technical foams, especially cross-linked polyethylene (XLPE) foams and PU foams, have limited options for recycling at the end-of-life. Worldwide, less than 16% of PU foams are recycled, as there is not yet a cost-efficient set of technologies in place or recycling infrastructure to manage these materials, and their accumulation in landfills has attracted scrutiny from environmental companies and curtailed use in sustainable construction, automotive, and packaging sectors which espouse a circular economy.
Technical Foam Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
6.4% |
|
Base Year Market Size (2024) |
USD 12.6 billion |
|
Forecast Year Market Size (2034) |
USD 21.9 billion |
|
Regional Scope |
|
Technical Foam Market Segmentation:
Product Type Segment Analysis
The polyurethane foam segment is predicted to gain the largest technical foam market share of 45.2% during the projected period by 2034, due to its effectiveness as a thermal insulator and protective product. It is lightweight, pliable, and able to breathe. Polyurethane foam is suitable for many uses, especially in the construction and automotive fields. Reports from the U.S. Department of Energy indicate that thermal insulation and insulation for polyurethane foam promote energy efficiencies in buildings, from 31% to 51% energy savings in buildings, and the implementations are extensive. The U.S. Environmental Protection Agency says that many low-emission polyurethane foams, such as low-emission foam in furniture, for example, have been verified to meet and comply with green building criteria by the ENERGY STAR program.
Application Segment Analysis
The automotive segment is anticipated to constitute the most significant growth by 2034, with 38.2% technical foam market share, mainly due to the increasing demand for noise, vibration, and harshness (NVH) control foams for electric vehicles and fuel efficiency requirements. Concerning automotive weight reduction, the U.S. Department of Transportation writes that technical foams will reduce the weight of a vehicle (up to 11% lighter) while incorporating plastic parts to reduce weight. In turn, this will improve the fuel economy of a vehicle by 7-9%. The European Environment Agency states that stringent CO₂ emission requirements from vehicles (based on a target of 96g/km) emphasize the use of foams for weight reduction in vehicles.
Our in-depth analysis of the global technical foam market includes the following segments:
| Segment | Subsegment |
|
Product Type |
|
|
Application |
|
|
End use |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Technical Foam Market - Regional Analysis
North America Market Insights
By 2034, the North American technical foam market is expected to hold 31.6% of the market share and value reached USD 3.6 billion in 2024, driven by demand from automotive, construction, and packaging applications. The region is expected to achieve a growth rate of 4.3% CAGR from 2025 to 2034. According to the U.S. Bureau of Economic Analysis, key drivers of this growth are increasing construction and automotive production demands across the United States and Mexico. Emerging technologies around lightweight, flame-retardant foams for electric vehicles (EVs) and thermal insulation applications limit the upside risk of the North American technical foam market.
The U.S. technical foam market alone was worth over USD 2.5 billion in 2024, accounting for nearly 69% of North America's revenue, which is driven by a strong demand for insulation in advanced manufacturing and aerospace applications. The U.S. Census Bureau noted that when construction expenditures reached a total of USD 2.1 trillion in 2024, the growth in construction spending created upward demand for insulation foams. Likewise, automotive production exceeded 11 million units in 2024, which drove foam consumption of polyurethane and polyethylene technical foams used for products that mitigate noise, vibration, and harshness (NVH) issues.
Asia Pacific Market Insights
The Asia Pacific market is expected to hold 28.8% of the market share due to rising demand in the automotive, construction, and electronics industries. The technical foam market was valued at USD 4.3 billion in 2024 and is projected to reach USD 6.9 billion by 2034, with a CAGR of 5.1%. The rapid growth of automotive production in China and India, construction spending in Southeast Asia, and electronic manufacturing in South Korea and Taiwan are vital for regional market growth. Polyurethane and polyethylene foams are expected to remain top products due to their insulation, sealing capacity, and low density.
The technical foam market for the Asia Pacific region is led by China, which had a 39% regional market share in 2024, which was worth USD 1.7 billion. The market is forecasted to reach USD 2.9 billion by 2034 at a CAGR of 5.8% during the forecast period. Market growth is largely due to continued automotive manufacturing, high-speed urban construction growth, and the production of electronic components in China. According to the MIIT, China produced 26.3 million vehicles in 2024, spurring more technical foam products for sound insulation, sealing, and light-weighting applications. The industry has successfully utilized these additions in the size and weight of foam. Given their predictable costs, reliable performance aspects, and a wide array of uses, polyurethane and polyethylene foams will continue to play key roles in future projects.
Technical Foam Market in APAC - Country-wise Insights
|
Country |
Industrial Development |
Economic Improvement |
Key Sector Investments (Automotive/Construction/Electronics) |
|
China |
- World's largest manufacturing hub (28% global output) |
- 5.2% GDP growth (2023)= |
- Automotive: 27M vehicles produced (2023), foam demand for EVs |
|
Japan |
- Leader in high-performance foam tech (aerospace, EVs) |
- Stable 1.7% GDP growth |
- Automotive: 7.8M vehicles exported (2023), focus on lightweight foam |
|
India |
- "Make in India" boosts foam production (+22% capacity since 2020) |
- 6.9% GDP growth (2023) |
- Construction: $1.2B smart cities mission |
|
South Korea |
- Advanced foam tech for displays/batteries |
- 2.6% GDP growth |
- Electronics: 40% global OLED production |
|
Vietnam |
- Fastest-growing industrial base in ASEAN (+9% manufacturing output) |
- 7.1% GDP growth |
- Electronics: Samsung’s $20B investment (foam for components) |
|
Thailand |
- ASEAN’s auto hub (1.9M vehicles produced in 2023) - 7% rise in foam imports for electronics |
- 3.8% GDP growth |
- Automotive: EV production targets (30% by 2030) |
|
Indonesia |
- Emerging industrial player (+6% manufacturing growth) - New foam standards for building materials |
- 5.3% GDP growth |
- Construction: Nusantara megaproject (insulation foam demand) |
Europe Market Insights
Europe technical foam market is expected to hold 27.6% of the market share due strong automotive, construction, and electronics sectors. Built on a market value of around USD 4.2 billion in 2024, with Germany, France, and the UK being the main contributors, the pandemic and digitalisation momentum sparked a growth pace very few anticipated. The increasing demand for electric-driven vehicles (EVs) and insulation materials, followed by all aerospace applications, has driven growth, with the forecast for expansion expected to continue in this successful manner. The technical foam market is estimated to grow at a CAGR of around 4.7% until the year 2034, coming in around USD 6.3 billion. The importance of sustainable, recyclable, and bio-based foam technologies is another trend that aligns.
Technical Foam Market in Europe – Country-wise Insights
|
Country |
Manufacturing & R&D Capabilities |
Technology Adoption |
Sustainability Initiatives |
|
Germany |
- 12+ specialized foam R&D centers |
- 60% of automotive foams are now bio-based |
- 100% renewable energy in 8 major plants |
|
France |
- 3 EU-funded bio-foam innovation hubs |
- 45% of construction foams use recycled content |
- Carbon-negative foam production targets |
|
Italy |
- 5 GMP-certified medical foam plants |
- 30% faster production with 3D foam printing |
- 70% less VOC emissions since 2020 |
|
UK |
- 8 advanced foam tech centers |
- Phase-change foam adoption in EVs (+40% since 2021) |
- 100% recycled ocean plastics in marine foams<br.- Net-zero foam manufacturing roadmap |
|
Netherlands |
- World’s first industrial-scale bio-PU foam plant |
- Robotics in foam cutting (waste reduction by 25%) - Blockchain foam traceability |
- 90% closed-loop water systems<br.- Cradle-to-cradle certified production |
|
Sweden |
- Pioneer in fire-retardant bio-foams - 10+ EU projects on carbon capture foams |
- 50% energy savings with AI-optimized foam molds - Self-healing foam applications |
- Fossil-free production since 2022 - Foam-as-a-service circular models |
|
Poland |
- Fastest-growing foam producer in the EU (+18% capacity since 2021) - €500M FDI in automotive foams |
- Automated foam recycling lines (30% cost reduction) - EV battery foam innovations |
- 80% waste-to-energy conversion - Green Public Procurement mandates |
Key Technical Foam Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
In the extremely competitive global technical foam market, prominent companies are focused on boosting production, developing biodegradable foam alternatives, and executing strategic mergers and acquisitions to solidify their standings in the market. Leading companies with prowess in research and the ability to design smart insulation technologies include, but are not limited to, BASF SE, Huntsman, and Armacell. Several firms in Asia, including Inoac Corporation and Sekisui Chemical, use robust and cost-effective manufacturing capabilities in conjunction with multiple product varieties. Many of the local dominant firms in India and Australia are exporting foam products to meet global demand. Other strategies employ supply chain digitization and associations with the automotive, aerospace, and construction sectors to produce specialized, high-performance foams.
Some of the key players operating in the technical foam market are listed below:
|
Company Name |
Country of Origin |
Approx. Market Share (%) |
|
BASF SE |
Germany |
10.6 |
|
Recticel NV/SA |
Belgium |
6.9 |
|
Armacell International S.A. |
Germany |
6.6 |
|
Rogers Corporation |
USA |
6.1 |
|
FoamPartner Group (part of Recticel) |
Switzerland |
5.2 |
|
UFP Technologies, Inc. |
USA |
xx |
|
Carpenter Co. |
USA |
xx |
|
Vita Group Limited |
UK |
xx |
|
Sekisui Voltek, LLC |
USA |
xx |
|
Foamex International Inc. |
USA |
xx |
|
Foamtech Ltd. |
India |
xx |
|
Fagerdala Group |
Sweden |
xx |
|
Foamco Industries |
Australia |
xx |
|
Inoac Polymer Korea Inc. |
South Korea |
xx |
|
Heveafoam Sdn Bhd |
Malaysia |
xx |
Here are a few areas of focus covered in the competitive landscape of the technical foam market:
Recent Developments
- In March 2025, BASF launched biomass-balance elastomeric polyurethane (PU) foam systems for North American furniture applications that have a product carbon footprint that is up to 76% lower than traditional foams. Certified REDcert2, this new approach leverages the sustainability priorities of furniture OEMs and is expected to increase the adoption of eco-optimized components in home furnishings manufacturing.
- In September 2024, BASF and Future Foam introduced the first commercial flexible bedding foam using 100% domestically produced Biomass Balance (BMB) Lupranate T 80 TDI. This drop-in sustainable feedstock supports Future Foam's sustainability efforts, having recycled over 2.1 billion pounds of foam since 2011. This launch is anticipated to dramatically lower CO₂ emissions and fossil resource use in the production of foam beddings.
- Report ID: 2737
- Published Date: Jul 16, 2025
- Report Format: PDF, PPT
Have specific data needs or budget constraints?
Reach out to us for a customized quote or to learn more about our special pricing
for startups and universities
Frequently Asked Questions (FAQ)
Technical Foam Market Report Scope
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Connect with our Expert
